Wholesale Inflation in India Edges Up

Wholesale Inflation in India Edges Up/Pexels

VoM News Desk | April 15, 2024 | 01:18 PM IST | India | Follow on Google News

Wholesale Inflation in India Edges Up

Wholesale Inflation in India Edges Up

India’s Wholesale Price Index (WPI) has remained positive for the fifth consecutive month, registering a modest annual inflation rate of 0.53% in March 2024. The uptick is attributed to rising prices of food articles, electricity, crude petroleum, machinery, and other manufacturing sectors.

Economic Response and Monetary Policy

Economists note that a slight increase in wholesale inflation can spur manufacturers to ramp up production. Despite this, India’s retail inflation has eased slightly to 4.85% in March, still above the RBI’s ideal 4% target. The RBI has responded with cumulative repo rate hikes of 250 basis points since May 2022, aiming to curb inflationary pressures.

VoM News Desk

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